Warning:
This information may not apply to the current
year. Check the content carefully to ensure it
is applicable to your circumstances.
About this
guide
The Guide to capital gains tax 2010
explains how capital gains tax (CGT) works and
will help you calculate your net capital gain or
net capital loss for 2009-10 so you can meet
your CGT obligations. There are worksheets at
the back of the guide to help you do this.
This guide is not available in print or as a
downloadable PDF (Portable Document Format)
document.
Who should use this
guide?
An individual, company, trust or
superannuation fund can use this guide to work
out their CGT obligations.
Individuals may prefer to use the shorter,
simpler Personal investors guide to capital
gains tax 2010
(NAT 4152) if, during 2009-10, they
only:
- sold some shares
- sold some units in a managed fund, or
- received a distribution of a capital gain
from a managed fund.
A company, trust or superannuation fund that
is required to complete and lodge a Capital gains tax (CGT) schedule
2010
(NAT 3423) (CGT schedule) should use the
schedule included at the back of this guide.
Part C explains when a schedule must be
lodged.
If you have a small business, you should get
the publication Guide to capital gains tax
concessions for small business (NAT 8384).
This guide does not deal fully with the CGT
position of:
- an individual or entity whose gains or
losses are included as part of its income under
other provisions of the tax law, for example
from carrying on a business of share trading
(see the fact sheet Carrying on a business of share
trading)
- an individual or entity that is not an
Australian resident for tax purposes
- a company that is the head company of a
consolidated group. The rules that apply to
members of a consolidated group modify the
application of the CGT rules. For more
information about the consolidation rules or if
you have technical tax enquiries, visit our
website.
Publications and
services
To find out how to obtain a publication
referred to in this guide, see Publications. For information about our
other services, see More
information.
Last Modified: Tuesday, 29
June
2010